As the office asset class in commercial real estate (CRE) evolves, the competition to attract tenants and investors has become increasingly fierce. In a market impacted by hybrid work models and changing tenant expectations, brokers need innovative strategies to differentiate their listings. One such strategy is the integration of advanced video technology into marketing efforts. From video offering memorandums (OMs) to drone footage and 3D modeling, video technology can provide a dynamic edge that helps showcase office properties in a new light, driving faster leasing and investment decisions.
The Changing Landscape of Office Real Estate
The U.S. office real estate market has faced substantial changes in recent years, influenced by shifting workplace dynamics, urban migration, and increased demand for flexible, modern office spaces. Traditional office spaces, especially those in major urban centers, are adapting to these changes, integrating more amenities, collaborative spaces, and sustainable features to meet tenant demand.
For CRE brokers, the challenge lies in effectively communicating these upgrades and the overall value of office assets to potential tenants and investors. Static images and traditional marketing materials often fall short of fully showcasing a property’s features. In contrast, video technology can capture and present the full range of a property’s offerings, highlighting everything from amenities to market proximity in ways that static media simply cannot.
Video Offering Memorandums: A Comprehensive Property Showcase
A video offering memorandum (OM) provides brokers with the opportunity to create a highly engaging, immersive experience for potential tenants and investors. Office spaces, especially in competitive markets, need to stand out visually and offer clear value propositions. Video OMs allow brokers to showcase the features that tenants and investors care about most, such as:
- High-tech conference rooms and collaborative workspaces
- LEED-certified or sustainable building features
- On-site amenities like gyms, cafes, and lounges
- The building’s proximity to public transit, entertainment, and restaurants
Video OMs are especially useful for highlighting the versatility of office layouts. For example, brokers can show how an open floor plan can be reconfigured for multiple tenants or highlight private offices, meeting rooms, and communal areas. According to industry data, property listings with video content receive 403% more inquiries than those without, underscoring the value of incorporating video into CRE marketing efforts.
Drone Footage: Capturing Surrounding Market Value
In addition to interior shots, drone footage is critical in providing a full understanding of an office building’s location and its surrounding market. A 360-degree aerial view of the property allows potential investors to assess its market context, whether it’s the proximity to key business districts, accessibility to transit hubs, or nearby amenities like hotels, restaurants, and retail spaces.
For suburban office developments, drone footage can highlight ample parking space, green areas, and accessibility via highways or major roads, all key factors for tenants who prioritize convenience. Urban office towers, on the other hand, benefit from aerial shots showcasing neighboring businesses and city views that can enhance a building’s prestige.
Given the competitive nature of the office market, video listings that include aerial footage are becoming more popular. Studies show that properties with drone footage are 68% more likely to receive inquiries, as investors and tenants can visualize the full scope of a property’s value.
3D Modeling: Bringing Future Developments to Life
For office properties that are still under construction or undergoing major renovations, 3D modeling provides brokers with a powerful tool for showcasing the property’s future potential. By using advanced 3D modeling, brokers can present virtual walkthroughs of the property, allowing investors to explore the space before completion. This is especially useful for properties undergoing major redevelopment or renovations, where traditional marketing materials might struggle to communicate the final vision.
With 3D modeling, brokers can give potential investors a look at the completed property’s layout, including common areas, office configurations, and even how natural light will move through the space. For multi-floor office buildings, 3D models can show how each floor can be used, including different layouts for various tenant configurations. This technology helps speed up decision-making for potential investors, offering a clear picture of what the completed project will look like.
Data-Infused Video: Communicating Key Metrics
Data is a critical component of any CRE marketing strategy, and video technology allows brokers to integrate key financial metrics directly into their presentations. In the office asset class, potential investors need to understand factors like occupancy rates, average lease lengths, and projected rental growth. Data-infused videos use on-screen graphics to present this information alongside dynamic footage of the property, helping investors make more informed decisions.
For example, while showcasing an office property’s conference rooms or collaborative workspaces, a broker can overlay data about the current market trends for office space, average rental prices in the area, or projected demand for office spaces with these amenities. This integration of data and visuals is far more engaging than a traditional slide deck, allowing brokers to communicate the property’s financial prospects in a clear, compelling manner.
Video Inspections: Simplifying the Due Diligence Process
One of the most time-consuming aspects of acquiring office properties is the due diligence process, which often requires multiple site visits. Video inspections streamline this process by providing detailed footage of essential areas such as HVAC systems, electrical setups, and shared amenities, allowing investors to review these areas remotely.
For brokers, video inspections can help accelerate the closing process by reducing the need for multiple on-site visits. Investors, building managers, and other stakeholders can view the video footage at their convenience, and issues that need to be addressed can be quickly identified and resolved without delaying the transaction.
Meeting the Demands of the Modern Office Market
As the office asset class continues to evolve, brokers must adapt their marketing strategies to meet the expectations of modern tenants and investors. Video technology, from video OMs to drone footage and 3D modeling, provides a comprehensive solution for showcasing the full value of office properties, helping brokers attract interest and close deals faster.
Conclusion
The office asset class remains a vital part of the CRE market, but as tenant needs evolve and competition increases, brokers must find innovative ways to showcase properties effectively. By integrating video technology into their marketing strategies, brokers can offer a more dynamic, engaging experience for potential investors and tenants, highlighting the unique features and financial benefits of office properties.
With tools like video OMs, drone footage, data-driven videos, and 3D modeling, brokers can position their office listings to stand out in a crowded market, ensuring they attract attention and close deals faster. VidTech’s suite of video services is designed to meet the unique needs of the office asset class, providing brokers with the tools they need to succeed.
